Average Cost of Pet Insurance in 2026: What Dog and Cat Owners Can Expect to Pay

A new 2026 analysis from Forbes Advisor looked at hundreds of thousands of pet insurance rates to estimate what dog and cat owners typically pay for coverage. According to the report, pet insurance costs an average of $56 per month for a dog for $5,000 of annual coverage, while cats average $24 per month under the same coverage level. For owners who want a policy with unlimited annual coverage rather than a capped benefit, the average cost for a dog rises to $87 per month, and the report notes that dog owners can expect to pay anywhere from about $24 to $286 per month for pet insurance, depending on the dog's age, the amount of coverage and the insurance company.

Age is one of the biggest drivers of price. The research found that monthly premiums for dogs climb steadily over time: plans with $5,000 of annual coverage averaged $43 a month for a 3 month old puppy, $41 for a 3 year old dog, $52 at age five, and $74 by age seven. The same pattern held for unlimited coverage plans, which rose from $64 a month for young dogs to $114 by age seven. The report explains this trend simply: older pets are more likely to develop health problems and need veterinary care as they age, so insurers price policies accordingly.

The analysis also compared monthly rates across more than a dozen named providers, including Chewy, Embrace, Figo, Healthy Paws, Lemonade, Pets Best, Prudent Pet, Pumpkin, Spot and Trupanion, with unlimited-coverage rates for a mid-size dog ranging from roughly $47 to $195 a month depending on the company and plan tier. The report notes that breed also plays a major role in cost, with small mixed-breed dogs generally the cheapest to insure and larger, higher-risk breeds costing more.

For anyone comparing pet insurance providers, a few takeaways from this kind of research are worth keeping in mind. First, the quoted monthly premium depends heavily on the deductible and reimbursement percentage you select, so it's important to compare quotes using the same deductible, reimbursement rate and annual limit across companies rather than comparing a low quote from one insurer against a higher one structured differently. Second, since age affects price significantly, enrolling a pet while it is young and healthy can lock in lower starting rates and avoid exclusions for conditions that develop later. Third, because breed is a major cost factor, owners of larger or higher-risk breeds should expect to pay more and should check how each insurer treats breed-specific or hereditary conditions. Finally, since unlimited annual coverage plans cost noticeably more than capped plans, it's worth weighing how much annual benefit your pet is realistically likely to need against the extra premium for a higher or unlimited cap. Reviewing waiting periods, exclusions and reimbursement timelines alongside the monthly price gives a fuller picture than looking at cost alone.

This article was drafted with AI assistance as part of our editorial process.